The Paradox of Risk and Sharia Compliance Analyzing Islamic Bank Strategies in Navigating Global Economic Uncertainty

Abstract

The global economic crisis and the uncertainty of international financial markets pose significant challenges for Islamic financial institutions, especially Islamic banking, which operate on the basis of Islamic principles. Amid pressures on financial stability and increasing market volatility, Islamic banks face a paradox between the need to manage risk effectively and the obligation to remain compliant with sharia principles that reject elements of speculation (gharar), usury, and investment in the non-halal sector. This study aims to analyze the strategies used by Islamic banks in responding to global economic uncertainty, with a qualitative approach based on literature studies (library research). Data was collected through a critical review of 25 scientific articles, reports of international financial institutions, and sharia regulatory documents. The results of the study show that Islamic banks have developed various adaptive strategies, such as diversifying real asset-based portfolios, strengthening profit-sharing mechanisms, implementing risk management based on sharia maqashid, and innovating more flexible sharia contract-based financial products. The study also found that the success of Islamic bank strategies is greatly influenced by institutional capacity, strong Islamic governance, and synergy between regulators, academics, and financial practitioners. Thus, these findings confirm that Islamic banks are not only able to survive in crisis conditions, but also have the potential to become a more stable, ethical, and sustainable alternative financial model amid global uncertainty.